Our accounts are available to individuals, aged 18 or over, who are ordinarily resident in the UK (i.e. England, Wales, Northern Ireland and Scotland) for tax purposes and have a permanent UK address. Also, you must have a personal UK bank or building society account that allows transfers to be made to and from it.

No. This is a Fixed Term Deposit account for a set period of time and our Fixed Term Deposit accounts do not allow for funds to be withdrawn during the term of the deposit. We will contact you before the account matures to inform you of the options available for your maturing funds.

30 days before your account matures, you are sent an email asking if you want to:

Reinvest your full original principal investment and the interest earned into a new OakNorth Fixed Term Deposit account.

Return your full original principal investment and interest earned back to your nominated account.

Reinvest a partial amount into a new OakNorth Fixed Term Deposit account and return the remainder back to your nominated account

If we do not hear from you before your account maturity date, the total amount including interest will be automatically transferred to a variable rate Easy Access Deposit account with us. See our Easy Access Deposit account page for the current interest rate.

Interest will be accrued daily but only applied to your account upon maturity.

Gross rate interest is the interest payable without taking into account of any tax payable.

The AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once a year.

Please note: The information provided in the summary box, is a summary of the key features of our Fixed Term Deposit accounts. It should not be used as a substitute for our terms and conditions which can be found on our website.

Your savings, protected

Your eligible deposits with OakNorth Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.